Documents executed: Demand Promissory Note, Agreement of Hypothecation, Agreement for Open Cash Credit, Undertaking, Letter from the Borrowers for disclosure of Information, Letter of Authority from the Borrower, Declaration by the Borrower on details of Relatives, Agreement of Guarantee, Details of Family Members of the Borrower/ Guarantor, Consent Letter form the guarantor for disclosure of Information, all dated 29.09.2020, which are Annexures A6 to A15 to this OA; Declaration by Sole Proprietor, Agreement for open Cash Credit, both dated 26.09.2023, which are Annexures A21 & A22 to this OA; Acknowledgment of Debt Cum Security dated 10.01.2024, which is Annexure A23 to this OA; Single/ Joint Demand Promissory Note, Agreement of Hypothecation OF Movable, Declaration by the Borrower on details of Relatives, Letter of Continuity, Agreement for Open Cash Credit , Undertaking, Agreement of Guarantee, Details of Family Members of the Borrower/ Guarantor, Consent Letter form the guarantor, all dated 25.10.2024, which are Annexures A25 to A33 to this OA; Statement of Accounts with certificate, which are Annexures A35 & A36 to this OA. 5. The loan accounts became irregular and were classified as NPA and after adjusting debit and credit entries in both the loan accounts there were a debit of Rs.27,32,852.00, which is recoverable and the defendants were served recall notices but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly. 6. The defendants were served summons to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex parte vide order dated 20.03.2026. 7. In support of the OA, affidavit of Sh. Rajesh Kumar, Branch Manager , Indian Bank, has been filed. 8. Heard ex-arguments and perused record.
